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.6Ya � tuJJ <br /> • SolarAttic, Inc•0 24 Hours/day (612)441-3440 Fax(612)441-7174 <br /> 15548 95th Circle NE,Elk River,MN 55330 Internet:http://www.solarauic.com Email: SolarAttic@aol.com <br /> City of Elk River EDA July 9, 1997 <br /> 13065 Orono Parkway <br /> Elk River MN 55330 <br /> Dear Paul Steinman: <br /> Update Notice <br /> This is a short update. Call me if you have any questions concerning this information. <br /> Direct Public Offering (DPO) <br /> Our DPO is on! I now expect that the SCOR Prospectus will be posted on our web site on <br /> July 31, 1997. We will be offering from 100,000 to 200,000 shares of common stock to the <br /> public at $5.00 per share. Some stock issues like current valuation are not fully resolved yet <br /> but will be during the next three weeks. State filings will begin after July 31st. I expect <br /> that actual sales will commence some time during August. We already have a significant <br /> amount of investment interest expressed. <br /> State Filings <br /> It is the company's intent to bypass the state of Minnesota with our DPO. This is due to the <br /> uncertain (bureaucratic) securities regulatory environment. The only thing certain with <br /> Minnesota is that the public offering of stock favors companies with deep pockets for <br /> lawyer fees. SolarAttic, therefore, chooses to bypass the securities issues in Minnesota at <br /> this time. <br /> Initial state filings will most likely occur in California, Florida and New Jersey. We already <br /> have a significant amount of interest expressed in these states. Ultimately, about a dozen <br /> states may be filed in. The exact states that we will file in-have not been firmed up. Florida, <br /> for example, doesn't appear to currently accept SCOR DPO offerings. Additional research <br /> needs to be done before filing. <br /> Stock Bulletin Board <br /> A bulletin board system is being put into place for buyers and sellers of SolarAttic's stock. <br /> The board will be located at the Internet address of "http://www.solarattic.com/stock.htm". <br /> The way the board will work is that those who want to buy or sell our stock will either <br /> write, fax or email the information to SolarAttic. Once a day, the information on our web <br /> stock page will be updated to reflect a current list of buyers and sellers. The buyers and <br /> sellers can then freely contact each other to effect a transaction. Eventually, the page will <br /> just direct investors to exchanges or market makers. Generally speaking, all public stock <br /> and private stock over 2-3 years of age will be able to be posted at this site for sale. <br /> SOLAR Without PANELS <br />